Summary
- Spirit Aerosystems launches new podcast ‘The Shop Floor’ to showcase company history and staff stories in aviation industry.
- Proposed acquisition by Boeing for $4.7 billion set to boost safety and quality of Boeing aircraft production with team integration.
- Executive bonuses totaling millions at Spirit Aerosystems as merger with Boeing pending shareholder and regulatory approval.
Spirit Aerosystems has is launching a new podcast to tell the story of the company and of aviation in the United States.
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Spirit AeroSystems
is the world’s largest tier-one manufacturer and supplier of aerostructures. After being sold from Boeing years ago, and providing parts for
Airbus
, Spirit Aerosystems has reached an agreement with the American manufacturer for an acquisition. Boeing will acquire Spirit for about $4.7 billion.
Photo: Spirit Aerosystems
Earlier today, the company announced it was launching an official podcast, called ‘The Shop Floor.’ The goal of the podcast is to highlight the company’s more than 20,000 staff members and the history of American aviation. Joe Buccino, a company spokesperson will be the host.
“This podcast is unique in that it gives voice to our workforce, our history, and our commercial and defense programs that are so critical to the aerospace industry, the flying public, and the United States and Europe. We tell the story of not only Spirit and aviation history in America, but also the individual stories of our teammates on the shop floor who make the aviation industry run.”
The podcast will be available on August 27th, one week from today, on platforms like Spotify, Apple Podcasts, Stitcher, Google Podcasts, and YouTube.
Recent Spirit Aerosystems news
Patrick Shanahan, President and Chief Executive Officer (CEO) of Spirit Aerosystems, is set to get a massive payout should the merger between Boeing and Spirit go through.
As reported by Simple Flying on August 13
, Shanahan is set to receive $28.5 million. But Shanahan is not the only one who will receive a bonus.
Shanahan’s bonus, should the merger go through, is almost four times more than the next-highest one. Irene Esteves, the Executive Vice President and Chief Financial Officer (CFO), is getting ready to collect $7.8 million. Three other executives are also expecting bonuses, according to an SEC filing.
Of the five executives receiving bonuses, Esteves would be the only one with a retention bonus and a sign-on retention bonus. The sign-on retention bonus, valued at $250,000, would only be received by Esteves if she remained at Spirit until April 1, 2025, or if the merger goes through.
The filing also went into details about the merger’s timeline, with Spirit writing,
“Boeing’s senior management believed a potential reintegration would improve the safety and quality of Boeing airplanes by integrating Boeing’s and Spirit’s engineering, manufacturing and quality and safety programs and teams, and would promote supply chain stability and the ability to facilitate production rate increases.”
Spirit’s shareholders needed to vote on the merger during a special meeting, and the date was not available to the public. In addition to the shareholder vote, the Federal Trade Commission (FTC) and the Antitrust Division of the Department of Justice (DOJ) will have to approve the merger.
Last week, after assuming his new role, Boeing CEO Kelly Ortberg paid Spirit a visit. During the visit, Ortberg met with Senator Jerry Moran from Kansas, and the company’s chairman. A more detailed report of the visit can be found
here
.